ISLAMABAD - Chairman of ASEAN Committee in Islamabad and Ambassador of Vietnam Nguyen Tien Phong here on Tuesday said that the association had become the fifth largest economic community in the world, a reliable and vital partner of many countries.
Talking to the ambassadors of members states of Association of Southeast Asian Nations (ASEAN), he said that the advancement of regional integration, connectivity and economic linkage had been a central aspect of the association’s integration process over the past 55 years. He said ASEAN played a central role in the region’s important dialogue, cooperation, and integration processes. ASEAN has enjoyed dialogue partnerships with 11 countries and international organizations (including China, the US, Russia, Japan, the ROK, India, and the EU, among others); Sectoral Dialogue Partnerships with six countries, including Pakistan, Türkiye, UAE, and development partnerships with four countries, including Germany, Italy. To date, intra-ASEAN trade accounts for 25% of ASEAN’s total trade turnover.
Its GDP in 2021 was US$3.36 trillion, an increase of 30% since the establishment of the ASEAN Community in 2015.